Wyg Share Discussion Threads

[exbroker] 28/5/2019 16:33

They have a very low rate of return hurdle as Euro cash rates are negative.

[norbert colon] 28/5/2019 15:18

It's a great Arb play as the downside is 55p and the upside circa 60-80p. Just a question of being able and willing to lock up your money until July pay day.

[value viper] 28/5/2019 15:14

Thanks Ex - interesting ..... would they invest £1 million plus for 1p of upside - possibly but seems they have "hunch" they might achieve more !

[exbroker] 28/5/2019 14:31

Its a new position ODDO BHF are a French arb fund.

[value viper] 28/5/2019 09:53

Suspect you are right tiger.....But there was 1 deal printed last week for example at 54p for 1 million shares plus a few hundred here and there (and there has been some chunky volume going thru), not beyond realms that this is a new position

[castleford tiger] 28/5/2019 08:34

I think that all holdings above 1% now have to be declared.

They certainly have not bought 1.9m shares.

The rules change after a bid from 3% to 1%

Tiger

[value viper] 28/5/2019 07:44

So for example has BHF today announced a new 2.72% holding in the co ? Or was that an existing - I'm not clear

[castleford tiger] 25/5/2019 09:45

still smarting from CVR.
being in the booze game i cannot believe i got that so wrong
tiger

[norbert colon] 25/5/2019 09:07

Yes their average price is around 35p so they will be happy.

[value viper] 25/5/2019 08:44

same ....recouped some CVR losses here ... recall u the same tiger

[castleford tiger] 25/5/2019 08:41

AB traction bought well.

Yes i guess it could happen but slim chance. A huge premium to admittedly a low ball price.

i am sitting tight
tiger

[norbert colon] 24/5/2019 22:54

I sold 10k today as I needed some cash for another opportunity but otherwise I'm sitting tight.I did the same for Waterman and no higher offer was forthcoming but that was a very good offer at 140p.WYG has more legs yet I hope. I've been this patient so far and very well rewarded so another month or so is immaterial.

[value viper] 24/5/2019 22:41

Assume you are holding all your shares then !? To await developments ?

[norbert colon] 24/5/2019 22:36

Sorry forgot to add that I did see that 1m trade and wondered if it was arbitrage on the basis that 55p is in the bag (unless Tetra Tech withdraw) and a higher offer is very possible.Time will tell.

[norbert colon] 24/5/2019 22:30

If you check Appendix III DETAILS OF IRREVOCABLE UNDERTAKINGS AND LETTERS OF INTENT you will see that the irrevocable undertakings of shareholders such as AB Traction etc cease to be binding if a higher offer (10% higher min) is tabled. A higher offer is hence possible.

[value viper] 24/5/2019 21:48

Also did you see the massive volume going thru today at 54p ?

[value viper] 24/5/2019 21:47

Notwithstanding having over 70% support now, if a higher offer were to materialise would not the board have to recommend it ?

[castleford tiger] 24/5/2019 21:17

It won’t happen as they have over 70% acceptance
Tiger

[norbert colon] 24/5/2019 21:03

After the excellent news earlier this week the question investors now have to ask is whether a counter offer will be put forward by another peer.I think the current offer is reasonably fair and slightly better than my minimum 40-50p target valuation, however, if the takeovers of Scott Wilson, Hyder and Sweett Group are anything to go by it would not be unreasonable to see further (higher) bids tabled.There are plenty of acquisitive larger groups in this space and it wouldn't be out of the question to see an offer up to 75p in my opinion. Either way I'm very happy and it's a nice situation to ponder over.

[castleford tiger] 24/5/2019 20:43

Thank you
Tiger

[value viper] 23/5/2019 14:44

Having investigated further, many what may appear to be buys are in fact sells - folks taking their money out early albeit sacrificing a bit more upside into July (deal completion).

[value viper] 20/5/2019 18:07

Buying in today sub offer on table brings insurance suppose AND keeps folks in game for any increased potential offer - guess today’s buying actually makes complete sense .....
But where do the market makers get all their shares to sell on today ???
And why were they letting folks take shares UNDER the tabled / agreed 55p ?

[value viper] 20/5/2019 16:20

Well I'm curious with the amount of buying going thru for sure

[thorne3] 20/5/2019 15:38

There has to be a chance of a counterbid;£43m still materially undervalues WYG even in its present less than optimum condition.

[value viper] 20/5/2019 08:30

Well done Norbert and tiger